top of page

CLIENT SUCCESS : TURNAROUND

Turnaround of a reputed Silicon Valley based corporation facing financial and management crisis.

Situation:
Our client is a reputed Silicon Valley based corporation that was going through serious financial issues after the dot.com bust and the investors were uncertain of the future of our client. Moreover, third CEO’s had left in a period of past 5 years, followed by the resignation of the Chairman of the Board of Directors. There was also major employee turnover. Due to lack of investments in services and unstable leadership, clients were unhappy and were switching to competitors. We were hired by Board of Directors at the time third CEO had resigned to assist them in coming out of this crisis.

Approach:

We created an emergency plan along with the Executive Board Committee to address the short-term critical issues- in order for it to stop bleeding. We focused on 2 areas: financials (cost reduction, restrict funds) and communication to key stakeholders.Scan Engagement: After conducting an extensive internal and external analysis, we diagnosed that the crisis was due to the absence of long term view for the organization leading to focus on short term tactical issues, poor financial management and lack of customer focused strategies. Our recommendation was to revisit organization’s vision and mission and create strategic goals by prioritization, strategic repositioning, reorganization, revenue enhancement, cost reduction and asset reduction.Strategy Engagement: We then created a task force with board, key stakeholders and facilitated a strategic planning retreat to revisit vision and mission; identified growth opportunities and set aggressive five-year goals; restructured the organization and reallocated resources to support strategic goals and strategies.Support Engagement: We further assisted the senior management in developing functional strategies and action plans to track implementation by aligning the organization and/or business unit goals to individual goals; drafting the performance measurement and management system, creating communication plan to communicate the change to all internal and external stakeholders and advised and mentored the new CEO to ensure continued progress.

 

Results:

With the help of Excolatur, our client achieved following results:
-- Staff turnover dropped to zero
-- 20% increase in customer base due to improved services
-- 25% increase in Revenue
-- Received an award in 2007

 

bottom of page